New Marketing Career Path Study Delivers Road Map for Producing Future Company Leaders in Pharmaceutical Industry

CHAPEL HILL, N.C., June 29, 2017 /PRNewswire/ -- In the last decade, the pharmaceutical industry has witnessed the evolution of the marketing function and how companies use marketing to effectively position their treatments for market entry and throughout the product lifecycle.

Yet many pharma companies fail to define a clear career path for their high-potential marketers - the company's future leaders. To help biopharma companies address this crucial blind spot, Best Practices LLC has just published a new report that explores how to best develop marketing talent and create optimal marketing career paths in the healthcare industry.

According to the new study, role rotations are a critical means of ensuring diverse marketing experiences. Nearly half of companies manage rotations strategically: 24% of companies rotate all marketers to promote growth and development, while another 24% target high-potential marketers for rotation. Currently, 29% of companies do not use any form of role rotation.

Good rotation plans expose individual marketers to the business activities, projects and experiences most integral to long-term growth and effectiveness. The most critical experience areas revolve around sales interactions, brand management and launch. Rotating marketers across multiple franchises or therapeutic areas is also valuable for forging future leaders.

Best Practices, LLC engaged 22 biopharma executives, directors and managers from 18 leading companies through a benchmarking survey instrument. Marketing, commercial, and training and development leaders can use this study to identify and promote the critical skills and experiences needed among marketing personnel to succeed and grow in key roles.

This new report identifies critical marketer training and development approaches at biopharmaceutical companies. In particular, this study probes key skills, competencies, training curriculum and content, common language, role rotations and must-have tools for forging high-impact marketing professionals.

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.